Majome to challenge Chinamasa on the legality of bond notes

Posted
Mon May 8 2017
by Tayana

Harare West MP Jessie Majome has said that she will take Finance Minister Patrick Chinamasa to task over the legality and constitutionality of bond notes.

Majome said that when she asked Chinamasa to demonstrate that he had followed parliament procedure with the $200 million Afreximbank loan that he said was evidence Government followed the constitutional requirements.

She said Chinamasa was supposed to gazette the terms within 60 days of signing and submitting it for Parliament approval for it to be binding, and that as a rule that it must be referred to the relevant portfolio committee first. However, Majome notes that Chinamsa avoided accountability by claiming that it’s a ‘facility’ and not a loan and so is exempt from all that.

Jessie Majome is a Zimbabwean politician. She is the Member of Parliament for Harare West constituency. Read More About Jessie Majome

Patrick Anthony Chinamasa is a Zimbabwean politician and a member of the ruling Zanu-PF party. He is the current Minister of Finance and Economic Planning .He was reappointed to the ministry after President Emmerson Mnangagwa had appointed his cabinet in November 2017.Chinamasa is former Minister... Read More About Patrick Chinamasa

Bond Notes are a currency of notes backed by a bond that the Zimbabwe government announced on 4 May 2016 by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya. The $2 denomination of the notes was finally introduced on 28 November 2016. More notes were... Read More About Bond Notes